2 Fountain Ln Unit 2P · Greenville, NY 10583

$389,000

2 bd · 2.0 ba · 1,200 sqft · Condo · 145 Days on market

Built 1981

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.2/30.0
• Schools +8.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

REDUCED!!! Great Buy!! Private end unit, very quiet spot, garden complex has elevators, monthly maintenance includes heat and hot water, and all taxes, also a garage assigned parking spot, carpets freshly cleaned, has 2 full bathrooms, balcony off living room, dining room has a pantry closet, complex offers a seasonal pool, sauna/steam room, Clubhouse with kitchen, fitness center, laundry on every floor. Walk to Buses, and Shops, near highways, Great Value Additional Information: ParkingFeatures:1 Car Attached,

Key facts

• Private end unit
• Private balcony
• Updated kitchen

Tags

• PRIVATE END UNIT
• EXPANSIVE LIVING AREA
• PRIVATE BALCONY
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $389k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $389k).
• Recommended offer: $342k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.1% in Greenville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#713 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Edgemont Union Free School District (suburban): math 85% / reading 91% proficiency, ranked #2 of 590 in NY (top 0%) — strong family-tenant draw, lease renewals of 3-5y typical; only 3% free/reduced lunch — higher-income household profile.
• Zoned schools: Seely Place School (math 88% / reading 92%, grade A+, #33 of 2,108 statewide, top 2%, 431 students, 0% FRL); Edgemont Junior-Senior High School (math 85% / reading 86%, grade A, #366 of 1,100 statewide, top 33%, 949 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Market conditions: 292 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $290k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $342,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-18,131
• Equity at exit: $58,001

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $42,333
• Equity at exit: $33,634

Cash invested: $108,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 10583

• Active inventory: 292
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $4,381 high
• Mortgage (P&I): −$2,040
• Tax est. 1.5%: −$486 /mo · $5,835/yr
• Insurance: −$162
• HOA est. from 1 same-building comp: −$69
• Vacancy / Maint / Mgmt: −$920
• Net cashflow: $703

Break-even live

Break-even rent $3,490

Max offer price $389,000

Occupancy floor 79%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Wright Pl Unit C4 Scarsdale, NY	1.0	1.0	700	$2,499	$3.57	25d	1	0.92mi
10 Wright Pl Unit A5 Scarsdale, NY	1.0	1.0	700	$2,550	$3.64	17d	1	0.92mi
26 East Pkwy Unit 14A Scarsdale, NY	1.0	1.0	810	$3,500	$4.32	44d	1	0.96mi
36 Grand Blvd Unit 2 Scarsdale, NY	3.0	2.0	1500	$6,100	$4.07	44d	1	0.98mi
69 Harney Rd Unit 6B Scarsdale, NY	1.0	1.0	725	$2,850	$3.93	44d	1	1.00mi
45 Popham Rd Unit 5L Scarsdale, NY	2.0	2.0	1041	$5,100	$4.90	7d	1	1.02mi
500 Central Park Ave Scarsdale, NY	2.0	1.5–2.0	1231	$4,425	$3.59	13d	1	1.38mi
837 White Plains Rd Unit 3R Scarsdale, NY	2.0	1.0	950	$2,500	$2.63	8d	1	1.44mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterpoolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-03-17
   status Pending
2. 2026-02-06
   status Active
3. 2025-11-07
   status Pending
4. 2025-09-11
   price $389,000
5. 2025-07-24
   listed $409,000 Active
6. 2019-10-16
   soldstatus $290,000 Sold 518-char remark

   Show marketing remark (518 chars)

   REDUCED!!! Great Buy!! Private end unit, very quiet spot, garden complex has elevators, monthly maintenance includes heat and hot water, and all taxes, also a garage assigned parking spot, carpets freshly cleaned, has 2 full bathrooms, balcony off living room, dining room has a pantry closet, complex offers a seasonal pool, sauna/steam room, Clubhouse with kitchen, fitness center, laundry on every floor. Walk to Buses, and Shops, near highways, Great Value Additional Information: ParkingFeatures:1 Car Attached,

7. 2019-07-26
   status Pending 518-char remark

   Show marketing remark (518 chars)

   REDUCED!!! Great Buy!! Private end unit, very quiet spot, garden complex has elevators, monthly maintenance includes heat and hot water, and all taxes, also a garage assigned parking spot, carpets freshly cleaned, has 2 full bathrooms, balcony off living room, dining room has a pantry closet, complex offers a seasonal pool, sauna/steam room, Clubhouse with kitchen, fitness center, laundry on every floor. Walk to Buses, and Shops, near highways, Great Value Additional Information: ParkingFeatures:1 Car Attached,

8. 2019-07-10
   price $304,999 518-char remark

   Show marketing remark (518 chars)

   REDUCED!!! Great Buy!! Private end unit, very quiet spot, garden complex has elevators, monthly maintenance includes heat and hot water, and all taxes, also a garage assigned parking spot, carpets freshly cleaned, has 2 full bathrooms, balcony off living room, dining room has a pantry closet, complex offers a seasonal pool, sauna/steam room, Clubhouse with kitchen, fitness center, laundry on every floor. Walk to Buses, and Shops, near highways, Great Value Additional Information: ParkingFeatures:1 Car Attached,

9. 2019-06-10
   price $325,000 518-char remark

   Show marketing remark (518 chars)

   REDUCED!!! Great Buy!! Private end unit, very quiet spot, garden complex has elevators, monthly maintenance includes heat and hot water, and all taxes, also a garage assigned parking spot, carpets freshly cleaned, has 2 full bathrooms, balcony off living room, dining room has a pantry closet, complex offers a seasonal pool, sauna/steam room, Clubhouse with kitchen, fitness center, laundry on every floor. Walk to Buses, and Shops, near highways, Great Value Additional Information: ParkingFeatures:1 Car Attached,

10. 2019-05-01
    listed $345,000 Active 518-char remark

    Show marketing remark (518 chars)

    REDUCED!!! Great Buy!! Private end unit, very quiet spot, garden complex has elevators, monthly maintenance includes heat and hot water, and all taxes, also a garage assigned parking spot, carpets freshly cleaned, has 2 full bathrooms, balcony off living room, dining room has a pantry closet, complex offers a seasonal pool, sauna/steam room, Clubhouse with kitchen, fitness center, laundry on every floor. Walk to Buses, and Shops, near highways, Great Value Additional Information: ParkingFeatures:1 Car Attached,

11. 2003-03-24
    soldstatus $165,000 254-char remark

    Show marketing remark (254 chars)

    Young California Style Resort-like Building With Doorman, Pool, Gym, Saunas, Party Room, Billiard Room And Garage Included. Express Bus To Nyc Right Out Front. Award Winning Edgemont Schools. Walk To Shops. Lovely Views Of Woods And Brook From All Rooms.

12. 2002-12-13
    historical 254-char remark

    Show marketing remark (254 chars)

    Young California Style Resort-like Building With Doorman, Pool, Gym, Saunas, Party Room, Billiard Room And Garage Included. Express Bus To Nyc Right Out Front. Award Winning Edgemont Schools. Walk To Shops. Lovely Views Of Woods And Brook From All Rooms.

13. 2002-04-22
    listed $165,000 254-char remark

    Show marketing remark (254 chars)

    Young California Style Resort-like Building With Doorman, Pool, Gym, Saunas, Party Room, Billiard Room And Garage Included. Express Bus To Nyc Right Out Front. Award Winning Edgemont Schools. Walk To Shops. Lovely Views Of Woods And Brook From All Rooms.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,566
• − Mortgage interest: −$21,790
• − Property taxes: −$5,835
• − Insurance: −$1,945
• − Repairs & maintenance: −$4,205
• − Management: −$4,205
• − HOA: −$828
• − Depreciation: −$11,316
• Taxable income: $2,441
• Est. tax owed @ 24.0%: −$586
• After-tax cash flow: $7,854/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Edgemont Union Free School District
• NCES district ID: 3610200
• Math proficiency: 85% ▼ -2.00%
• Reading proficiency: 91% ▲ 9.00%
• Median HH income: $177,199
• Composite: 86.43/100
• National rank: #4
• State rank: #2 of 590 in NY

Livability — Greenville

• Score: 65/100
• State rank: #713
• US rank: #13570

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing B- Health & safety C+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, NY
• County: Westchester County · 709,332 people
• City population: 3,648
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 40,207
• Household income: $250,001
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 560.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 63% Asian 20% Hispanic / Latino 8% Two or more races 7% Black 3%
• Hispanic origin (detail): Puerto Rican 2% Dominican 2%
• Common ancestry: Scotch-Irish 6% Romanian 5% Italian 3%
• Foreign-born: 25% · Canada, China, South Korea
• Languages at home: 72% English-only · Other Indo-European 8% Chinese 6% Spanish 5%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -851.83%
• Current HPI: 283.4725
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+135.8% since first listed

13 events — show timeline

• 2026-03-17 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-11-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-09-11 Price Changed $389,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-24 Listed $409,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-16 Sold (MLS) $290,000 OneKey® MLS as Distributed by MLS Grid
• 2019-07-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2019-07-10 Price Changed $304,999 OneKey® MLS as Distributed by MLS Grid
• 2019-06-10 Price Changed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2019-05-01 Listed $345,000 OneKey® MLS as Distributed by MLS Grid
• 2003-03-24 Sold (MLS) $165,000 HGMLS
• 2002-12-13 Delisted — HGMLS
• 2002-04-22 Listed $165,000 HGMLS